Waaree Energies Q1 FY27 Earnings Call Transcript Released
Waaree Energies reported Q1 FY27 revenue of ₹7,932 crores, up 79.2% YoY. The order book reached a record ₹61,500 crores. Profit after tax was ₹892 crores, up 15.4% YoY. The company commissioned new capacities and acquired Associated Power Structures for ₹1,225 crores. Retail revenue grew 130% YoY.
The transcript of the earnings call provides detailed financial performance, strategic updates, and future outlook, which are material for investors and stakeholders.
The announcement details record order books, significant revenue growth, and strategic capacity expansions, indicating strong business performance and positive future outlook.
Waaree Energies Limited announced the transcript of their conference call regarding the Unaudited Financial Results for the quarter ended June 30, 2026. The call, held on July 30, 2026, featured insights from management including Mr. Jignesh Rathod (Whole-Time Director and CEO), Mr. Abhishek Pareek (Chief Financial Officer), and Mr. Varun Goenka (President, Growth and Strategy).
Key highlights from the call included a record order book of approximately ₹61,500 crores, an increase from ₹50,000 crores in the previous quarter, with ₹16,000 crores in new orders secured during Q1 FY27. The company emphasized its position as the largest non-Chinese module manufacturer globally, with plans to become the largest cell manufacturer outside China upon the completion of its 10-gigawatt cell line. Strategic initiatives included commissioning an additional 3 gigawatt of module capacity, commencing automated BESS container production, and completing the acquisition of a 55% stake in Associated Power Structures for approximately ₹1,225 crores.
Financially, Waaree Energies reported a 79.2% year-on-year growth in revenue from operations to ₹7,932 crores for Q1 FY27. Operating EBITDA stood at ₹1,440 crores, a 44.4% increase, with a margin of 18.2%. Profit after tax was ₹892 crores, up 15.4% year-on-year. The company's module capacity remains at ~26 gigawatts, with cell manufacturing capacity at 5.4 gigawatts, expected to increase significantly. The retail segment revenue more than doubled, growing 130% year-on-year, and is projected to reach ₹10,000 crores for the full year FY27.
Management addressed challenges such as rising raw material costs and softer export mix, outlining strategies for margin improvement through increased captive cell production and cost leadership programs. They reaffirmed their 2027 operating EBITDA guidance of ₹7,000 crores to ₹7,700 crores, driven by strong demand tailwinds, a robust order book, and ongoing expansion projects.
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